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It payes to shop around

Discussion in 'Licence - Rego - Insurance - Law - Rider Training' started by Phil, Apr 1, 2011.

  1. Phil

    Phil Senior Member Contributing Member

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    Insurance, Who needs it. Truth be known, we all do and it comes at a cost. However, by shopping around you'll find that there are still some good deals to be had. My last few bikes were bought cheaply and done up so I figured that in the event of an unfortunate incident I could wear the lose. Then I lashed out and got a CBR1100 and parted with moucho dollars.
    Insurance became a prerequisite and so I calmly sat down in front of the computer and away I went.
    It really is very simple but you will need all relevant information about your bike as the question keep coming. But soon you a have a quote up on the screen, I printed each quote out and tried 7 different insurers. Total time spent 45 minutes.
    One thing to think about is an option to not just insure your ride but also your riding gear, lets face it most part with alot of money on Helmets, jacket, gloves and so on. I originally declined this offer, however on reflection contacted the company and had that option included, I did the maths and the numbers made sense.
    In closing, check the numbers carefully and if satisfied "GO FOR IT", shopping on line is real easy. Hope this helps.  Enjoy the ride    Phil
     
    Phil, Apr 1, 2011
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  2. yongpc

    yongpc Active Member Premium Member Contributing Member

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    totally agreed. shop around does pay off. well i was looking for a fire, theft and third party property insurance for my 250cc bike couple of days ago and i was shock by the discrepancy between the prices offered by different companies.
    firstly i rang around and found out only suncorp, bikenut and qbe offer fire, theft and third party insurance(as far as i'm concerned). i'm more fond of qbe and suncorp because they can insure you for the agreed value between two parties whereas bikenut only insure you on market value, which is insanely high(they rated $6500 for my 1999 cbr250rr). 
    ok the crazy part, so naturally i gave out exactly the same info for qbe and suncorp insurance and got a quote from both of them.
    QBE insurance : $776 per annum
    suncorp insurance : $254.10 per annum
    suncorp it is then....no second thought
    crazy!!!!!!!!!!!!!!!!!!!!!!! happy i did my homework.

    PS. QBE does have better customer service than suncorp i think. when i called suncorp i had to be transferred a few times before i get someone to help me..but QBE...boom. first one who answered the phone did it all.

    cheers
     
    yongpc, May 12, 2011
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  3. PD186

    PD186 Member Premium Member

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    When I was looking for insurance recently I also found a large difference in prices. It is so easy to get an online quote so shop around. It saved me a couple of hundred.
     
    PD186, May 12, 2011
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  4. b.feng91

    b.feng91 New Member

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    there is no difference in price (well not much) in terms of a bike riders under the age of 21  right?
     
    b.feng91, May 21, 2011
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  5. Artemis

    Artemis Well-Known Member Premium Member

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    Just been thinking of comprehensive insurence as I'm getting something brand new...

    Man it sucks to be under 25. Though I understand there are those that give us a bad name (insert rant here about how the ageing conservitive population takes us for all we're worth at every turn, dismisses us as inexperienced in ways of the world, refuses to allow our equal representation in parliment through a combination of in-caucuss pressure and the exercise of voting privilleges and generally grinds us into the dirt conveniently forgetting that we will be the ones who pick their nursing homes)

    20% of the cost of the bike per year DOES put a bit of a strain on an already (for a student) large investment.... Especially as I'll have the 1,000km service to fund as well.

    My thinking thus far is this: Get third party and theft ready for ON THE DAY so I don't have to put off getting my new shiny shiny, save up for the premium (which is to the tune of about a grand with minor variations here and there... and I even have a no claim rating! The nerve!) and then get it, while subtly dreaming of undermining the establishment and bringing all the oldies down a notch (a dream only obtainable when I actually GET any power, ie am one of those old conservitives drinking brandy and grinding the upstart impulsive youth into the dirt with my $500.00 boot heels)

    Oh, I'm a politics major and I have some pretty fun arguments for lowering the voting age to 16 if anyone's ever up for that kind of debate :p

    But yeah. If anyone knows an insurence company where I can pay LESS than a grand let me know :D
     
    Artemis, Jun 2, 2012
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  6. Phil

    Phil Senior Member Contributing Member

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    Hey Artemis

    How many insurers have you contacted so far. I have gotten very good rates from insure my ride on line, worth a look. Keep looking my friend.
     
    Phil, Jun 2, 2012
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  7. Artemis

    Artemis Well-Known Member Premium Member

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    Insuremyride.com was 1,100. AAMI (With whom I have been insured with to date) was 1,090. Suncorp was 1,100ish, there was one (that I immediatly discounted) that was 1,600... another at 1,200...

    I just can't cut it below the grand mark.
     
    Artemis, Jun 2, 2012
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  8. Artemis

    Artemis Well-Known Member Premium Member

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    Just discovered (somehow) that I have a rating 1 on my insurence record.

    Wow. Just... Wow.

    So, insurence just got a lot cheaper!
     
    Artemis, Jun 4, 2012
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